The parity requirement refers to two or more bond issues with the same payment or seniority rights. In other words, a loan by parity is a loan issued with the same rights on a debt as other bonds already issued. Unsecured bonds, for example, have the same rights, as coupons can be used without one loan taking precedence over another. Unsecured bonds would therefore be classified as parity bonds. Similarly, secured bonds are bonds of parity with other secured bonds. Often, identical items are pari-passu that come with the same benefits and the same cost of other items with which they are grouped. In other situations, objects can only be pari-passu on one aspect or only on certain aspects. For example, two competitors can offer two identical functional widgets at the same price with superficial differences like color. These widgets are functional pari-passu, but can be aesthetically different. The loan agreement generally frames the pari passu clause as: Pari-passu is a Latin term meaning « equal » and describes situations in which two assets, securities, creditors or bonds are managed without preference. An example of pari-passu is found in the bankruptcy proceedings: if the court renders a judgment, the court treats all creditors in the same way and the agent will reimburse them the same fraction as the other creditors. 5.1 The borrower undertakes, with each lot, not to create or accept mortgages, commissions, mortgages, mortgages, assumptions or other charges of any kind on any of its assets, without the prior written consent of the lots, to be classified according to securities, except in accordance with Section 7 of this agreement. If the company`s debts are pari passu, they are all classified in the same way, so that the company pays the same amount to each creditor in the event of bankruptcy.

3.1 The loan granted by the lots under the facility agreement is guaranteed by the securities, as indicated by the « A list » of the lots on a pari passu basis.

A disclosure statement is required by law at 767.127. It must contain all sources of income, estimated monthly expenses, a list of all assets, both real and personal, as well as all debts. In order for the court to make a fair assessment, financial disclosure is required. During a divorce, there are many circumstances in which parties are required to disclose their assets financially. Financial disclosure is a complete presentation of your current financial income and all assets as well as supporting documents that serve as evidence. We look at the definition of financial disclosure, what it covers and its importance, and the consequences of trying to hide your financial situation. Some lawyers embellish their client`s financial disclosure statement and do not spend time with the client to ensure that the information is correct and complete, including the client`s mathematical calculations of how they calculated their gross and net monthly income. Interim financial disclosure also requires other forms. Each spouse must submit the calendar of assets and liabilities, the tax and effort return and the notification statement of the information return. Each party must draw up a clear list of all assets and debt in these forms, listing perjury. By signing the return, each spouse confirms that they have disclosed all of the party`s known assets and debt.

In the event of a divorce, the petitioner (the spouse who has applied for a divorce) must always give the respondent an interim disclosure. However, the interviewee only has to do paperwork when responding to the petition. Confidential financial information must be provided within 30 days of entering a covered position and every year no more than February 15. A staff member may request additional time to submit their report to their component manager, who may grant an extension of up to 90 days. A divorce case in California involves many complex tasks and processes. Such a task is interim financial disclosure. This is a mandatory registration requirement for divorce couples in the state of California. Interim financial disclosure is a list of all marital assets and liabilities of each party, which is disclosed to the other spouse prior to the divorce proceedings.

Each party must disclose the assets and debts in the event of a fair divorce. A lawyer can assist a spouse in interim financial disclosure and ensure that he or she correctly completes this step in order to avoid sanctions. The pooling of documents necessary for the publication of financial data can sometimes be difficult, but it is important, because without the complete financial situation, negotiations cannot proceed properly. Just because an asset is disclosed as part of this process does not mean that it should be shared. As soon as financial information is provided, negotiations take place and explain why assets should be treated in a certain way. Examples may be that a portfolio of shares or a savings account came from an inheritance, a pension was taken before the marriage. Financial advertising is also good financial management, as you need to check your financial situation due to a separation. A California judge will not grant a divorce order until the couple have exchanged interim financial data.

The courts need these documents to properly quantify the common ownership of the couple. Without this information, the courts cannot accurately calculate the co-ownership or reduce it in half to the spouses. After the divorce is filed, each spouse will complete the disclosure statement in full and precisely.

However, in order not to have to use the rental court, landlords are advised to say exactly in the rental agreement what « fair wear and tear » and damages entails. In the case of Pete`s Warehousing and Sales CC/Bowsink Investments CC 2000 (3) SA 833 (E), the court challenged the condition of the premises leased for use as warehouses. The Tribunal relied on Sarkin when it indicated that the tenant`s obligation to maintain the leased premises must be interpreted in light of the condition of the leased land at the time the lease came into effect. The court found that if the tenant made a claim regarding the condition of the premises leased at the beginning of the lease and the lessor was not involved, the landlord`s support obligation would remain in effect. The owner is also required to repair damage to the rented premises caused by « fair wear and tear. » A landlord and tenant should have common sense and common sense to avoid conflicts of attrition. Normal wear occurs when the rental is degraded for a certain period of time due to the usual and responsible use of the apartment. In Sarkin, the court considered what might need to be repaired by a tenant who would not be subject to the exception of « fair wear and tear » (Sarkin v Koen 1948 (4) SA 438 (C)). The fixing of the lights and the attachment of broken bricks on the roofs were among the examples mentioned by the court. The court found that the objects should not be replaced, but only repaired.

The Wording of the Tribunal states: « Time must be taken into account; an old article is not to be redone; but to the extent that the repair can be repaired again or can be protected from the ravages of time and the elements, « tile breakage cannot be taken into account for general wear, but discoloration, » points out Sanoj Kumar, a real estate agent based in Delhi. A security deposit can be used for a variety of reasons, one of which is damage to the rented apartment. For tenants, it is sometimes a kind of grey area, so it is in the interest of both the landlord and the tenant to have it clearly stated in the tenancy agreement. If not or in the case of other disputes, the housing rental court has specific definitions and parameters of what the tenant`s deposit can be used for. A basic general rule is that if a tenant has damaged something that normally does not wear out, or the tenant has significantly reduced the lifespan of something that wears out, the tenant can be charged the cost of the item. The owner should consider the age of the item and the length of time it might otherwise have taken, as well as the exchange fee. At the end of the life, a lessor is entitled to possession of his property in the state in which he owns his tenant, except that fair wear and tear is to be expected and should not be punished. For example, ordinary carpet wear should not be attributed to the tenant, as cracks or stains are also considered damage. Any deduction for the tenant`s deposit should take into account the age of the carpets in relation to the expected total use time.